Bitcoin news

Block, the payments company led by Jack Dorsey, applied to the U.S. Office of the Comptroller of the Currency (OCC) on September 4 to charter Builders Bank & Trust, an uninsured national trust bank. The proposed bank, headquartered in Sioux Falls, South Dakota, would not take deposits or make loans, but would focus on custodying Bitcoin and other digital assets, executing customer orders, and settling stablecoins. The application follows Block's handling of around $10.7 billion in Bitcoin transaction volume in 2025 under state licenses. A federal charter would provide a consistent national framework as the business scales. However, the OCC has denied similar applications in the past, and the move faces scrutiny, including from Senator Elizabeth Warren, who argues the agency lacks authority to grant such charters to non-fiduciary firms.

Jack Dorsey's payments company Block has applied to the U.S. Office of the Comptroller of the Currency (OCC) to create Builders Bank & Trust, a federally regulated national trust bank for Bitcoin and stablecoin custody services. The proposed uninsured bank would not accept deposits or make loans, operating under OCC supervision to provide custody and fiduciary services with a consistent national framework. Lee Woolley, Block's digital asset strategy lead, would serve as president and CEO. Block joins other crypto firms pursuing such charters, including Ripple, which received conditional approval, and Circle and BitGo, which have final approval. Kraken parent Payward and Zerohash have also submitted applications.

Strive, a Bitcoin treasury company, increased its annualized preferred-dividend burden by nearly $12 million in one week after issuing about 921,511 new SATA preferred shares, according to its Sept. 8 disclosure. The company bought 1,375 BTC between Aug. 31 and Sept. 4 at an average price of $79,281, bringing its total holdings to 24,531 BTC. SATA shares rose from 9,073,914 to 9,995,425 during the week. With the dividend rate held at 13%, annualized payouts rose to $129.9 million from $118 million. Cash increased by $19.1 million to $202.6 million, keeping coverage stable at about 18.7 months, though the ratio excludes other assets and expenses.

Hedge funds are increasingly betting on a stronger Japanese yen, with options positioning indicating the dollar-yen rate could fall below 150 by year-end and possibly to 140 in longer-dated trades. This shift follows hawkish signals from Bank of Japan officials and rising Japanese inflation, which have prompted investors to unwind yen-funded carry trades. These carry trades have historically financed leverage in global risk assets, including Bitcoin. A stronger yen raises the cost of repaying yen-denominated loans used for crypto positions, potentially forcing investors to sell risk assets. Bitcoin has so far remained resilient, trading near $78,848, but the sustainability of this resilience may depend on the Bank of Japan's September policy decision.

Block, the payments company led by Jack Dorsey, has applied to the U.S. Office of the Comptroller of the Currency (OCC) to establish Builders Bank & Trust, an uninsured national trust bank for Bitcoin and stablecoin custody. The proposed bank would not accept deposits or make loans, focusing instead on fiduciary and custody services under federal supervision, pending regulatory approval. The application arrives amid a surge of crypto and fintech firms seeking federal bank charters, including recent approvals for Ripple, Circle, and Revolut. The OCC's acting comptroller has signaled openness to digital asset companies, though the path faces scrutiny from lawmakers and banking groups. Block's proposed bank is subject to OCC review and cannot operate until all conditions are met.

Strive purchased an additional 1,375 Bitcoin for approximately $109 million between Aug. 31 and Sept. 4, raising its total corporate holdings to 24,531 BTC. The Dallas-based company paid an average of $79,281 per Bitcoin, including fees, according to a Sept. 8 SEC filing. This followed its acquisition of 1,800 BTC the prior week, bringing the two-week total to 3,175 BTC for about $252 million. Chief Executive Matt Cole said about 70% of the weekly capital came from sales of Strive's SATA preferred stock, whose outstanding shares rose by 921,511 to nearly 10 million, representing approximately $999.5 million in notional value. The company also issued additional common shares, and its cash increased by $19.1 million to $202.6 million despite the Bitcoin purchase. Strive's holdings of Strategy's STRC preferred stock remained unchanged at 505,000 shares. With Bitcoin trading near $79,300 on Sept. 9, Strive's holdings would have a market value of about $1.95 billion. The company aims to become the second-largest corporate Bitcoin holder, but would need to acquire roughly 1,200 BTC weekly to overtake Twenty One Capital, assuming that rival makes no further purchases. Strive also has more than $700 million in outstanding warrants that could provide up to $1.4 billion for additional Bitcoin buys.

Block, the fintech firm co-founded by Jack Dorsey, has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter. The proposed entity, Builders Bank & Trust, N.A., would offer federally supervised custody and fiduciary services for digital assets, including Bitcoin and stablecoins. The bank would be led by Lee Woolley, Block's digital asset strategy lead, and would be uninsured and non-deposit-taking. Block says the national charter would provide a consistent federal regulatory framework as its digital asset custody business scales, building on its experience with Square Financial Services. The OCC must approve the application before the bank can begin operations.

Jack Dorsey's Block has applied for a federal national trust bank charter with the OCC, aiming to offer Bitcoin custody services through its proposed Builders Bank. The application would allow Block to operate under federal regulation without engaging in traditional banking activities like taking deposits or making loans. Market observers view the move as a positive signal for institutional interest in Bitcoin custody, with prediction markets showing a moderate increase in the likelihood of Bitcoin reaching higher price levels by the end of 2026. Regulatory responses to the application are expected to influence market sentiment.

British bitcoin exchange CoinCorner has launched a multisig bitcoin custody service in partnership with US firm AnchorWatch, with holdings insured by Lloyd's of London. The service, called Vault, charges 1.5% annually and is designed for owners seeking cold-storage security without managing hardware themselves. The launch follows a recent Coldcard wallet hack that resulted in approximately $115 million in losses from single-signature wallets due to a firmware bug. CoinCorner's Vault splits key control between the exchange and AnchorWatch, handling key distribution on the customer's behalf to simplify multisig setup. Holdings are verifiable on-chain, with transfers typically processed on the first working day of the following month. CoinCorner claims it is the first service of its kind globally.

Castle has opened its automated financial platform to individual users, allowing them to convert any portion of the 12% annual dividend paid by Strategy's STRC preferred stock into Bitcoin. Users can receive dividends in cash, Bitcoin, or a combination, with allocations running automatically each payment. Strategy pays the STRC dividend in cash, while Castle handles subsequent Bitcoin purchases. The feature was designed for investors seeking regular income while building a Bitcoin position, eliminating the trade-off between yield and holding bitcoin. Previously, Castle's services were limited to businesses and nonprofits. STRC's 12% dividend rate is variable, not guaranteed, and subject to board approval and market conditions. The company has not disclosed account minimums, fees, or tax reporting details for the conversions. Castle was founded by Stephen Cole and João Almeida, backed by Boost VC and Winklevoss Capital.